Algorithms for Solving Dynamic Models with Occasionally Binding Constraints / Lawrence J. Christiano, Jonas D.M. Fisher.

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Christiano, Lawrence J

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Material type: Text

TextSeries: Technical Working Paper Series (National Bureau of Economic Research) ; no. t0218.Publication details: Cambridge, Mass. National Bureau of Economic Research 1997.Description: 1 online resource: illustrations (black and white)Subject(s):

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Abstract: We describe and compare several algorithms for approximating the solution to a model in" which inequality constraints occasionally bind. Their performance is evaluated and compared" using various parameterizations of the one sector growth model with irreversible investment. We" develop parameterized expectation algorithms which, on the basis of speed convenience of implementation, appear to dominate the other algorithms."

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Item type	Home library	Collection	Call number	Status	Date due	Barcode	Item holds
Working Paper	Biblioteca Digital	Colección NBER	nber t0218 (Browse shelf(Opens below))	Not For Loan

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October 1997.

We describe and compare several algorithms for approximating the solution to a model in" which inequality constraints occasionally bind. Their performance is evaluated and compared" using various parameterizations of the one sector growth model with irreversible investment. We" develop parameterized expectation algorithms which, on the basis of speed convenience of implementation, appear to dominate the other algorithms."